Moody's changes Armenia's rating outlook to positive from stableMarch 12, 2018 - 16:18 AMT PanARMENIAN.Net - Moody's Investors Service ("Moody's") has changed the outlook on Armenia's rating to positive from stable and affirmed the B1 long-term issuer and senior unsecured debt ratings, the company announced. The positive outlook is underpinned by macroeconomic policies that should reduce Armenia's vulnerability to external shocks. Moreover, ongoing reforms of the fiscal framework may shore up fiscal strength over time. Armenia's B1 rating balances credit strengths from robust growth potential and improving institutional strength against credit challenges stemming from a small and low income economy that remains exposed to external developments, a moderately high debt burden that relies on external funding, and latent geopolitical tensions with neighbouring Azerbaijan. Moody's has also raised Armenia's long-term local-currency bond and deposit ceilings to Baa3 from Ba2. Armenia's long-term and short-term foreign currency bond and deposit ceilings remain unchanged at Ba2/"Not Prime" and B2/"Not Prime", respectively. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. Ucom launches network modernization efforts in few regions of Armenia In particular, on March 28, the legacy Mobile Switching Subsystem will be replaced with a new one. |